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Mexico's Banorte posts 25% drop in net profits for 2nd quarter

Credit: REUTERS/GINNETTE RIQUELME

Mexico's Grupo Financiero Banorte said on Thursday that net profits dropped by 25% in the second quarter to 6.5 billion ($283.9 million) pesos compared to the same period a year earlier.

MEXICO CITY, July 23 (Reuters) - Mexico's Grupo Financiero Banorte said on Thursday that net profits dropped by 25% in the second quarter to 6.5 billion ($283.9 million) pesos compared to the same period a year earlier.

The group GFNORTEO.MX also reported a 8% increase in total revenues over the period to 26.6 billion pesos.

($1= 22.9570 pesos at end-June)

(Reporting by Noe Torres)

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